SafeMoon and Litecoin: Litecoin stabilized above 65.00
- SafeMoon’s price continues to move sideways in the 0.00004200-0.00004700 range
- Yesterday, we saw Litecoin’s price gaining support at the 65.00 level.
SafeMoon chart analysis
SafeMoon’s price continues to move sideways in the 0.00004200-0.00004700 range. Today’s movement is closer to the lower support level. The price fails to get close to the EMA50 moving average and moves into a safer zone. For such a thing, we need to move above the 0.00004600 level. After that, we would be able to test 0.00004700 and try to continue above.
Potential higher targets are the 0.00004800 and 0.00004900 levels. We need a negative consolidation to the 0.00004200 support level for a bearish option. With a pullback below, we would see the formation of this year’s new low. Potential lower targets are 0.00004100 and 0.00004000.
Litecoin chart analysis
Yesterday, we saw Litecoin’s price gaining support at the 65.00 level. With the bullish consolidation that followed, the price climbed to the 68.00 level. Currently, we are testing the EMA50 moving average and need a stronger bullish impulse to trigger a more concrete bullish recovery. Potential higher targets are 69.00 and 70.00. Moving above 70.00 would make a significant step towards a more stable bullish option.
We need a negative consolidation and pullback to the previous support at the 65.00 level for a bearish option. The inability to hold above it leads to a pullback below and the formation of a new low that confirms the bearish scenario. Potential lower targets are 63.00 and 62.00 levels. This week’s low price was on Monday at the 60.00 level.
